Jim Cramer Blog

Stocks partially rebounded from a spate of Friday afternoon profit taking to finish mixed. A government employment report that came in as expected and a drop in the U.S. trade deficit helped give traders some confidence in the economy going forward. The 10-year Treasury note and crude oil futures both dropped sharply. The yield on the 10-year note rose to 4.59%, while crude slipped to just above $60 a barrel.
The Labor Department reported the unemployment rate fell from 4.6% to 4.5% in February as U.S. employers added 97,000 non-farm workers. A drop in construction jobs was offset by gains in the services sector. Average hourly earnings rose 6 cents to $17.16. The employment numbers were in line with expectations. The Commerce Department, meanwhile, reported that the January U.S. trade deficit narrowed by -3.8% to $59.1 billion.
In today's market action, Yahoo (Nasdaq: YHOO - News) dropped -5% on a report in The Wall Street Journal that the company might lose a long-standing contract with AT&T (NYSE: T - News). Subscribers can read our take on the Journal article and the market's reaction to it in today's issue. National Semiconductor (NYSE: NSM - News) was one of the day's better performers after it raised its full-year guidance, despite the fact that it reported a -45% drop in earnings. The maker of analog chips cited improved bookings for its increased outlook. For the quarter ended February 25th, the company reported profits of $71.5 million, or 22 cents a share, down from $130 million, or 37 cents a share, a year earlier. Revenue dropped to $431 million, well below last year's $548 million.
In other earnings-related news, homebuilder Hovnanian Enterprises (NYSE: HOV - News) dropped -4% after the company reported a FQ1 loss and cut its full fiscal year target. The company lost -$57 million, or -91 cents per share, for the quarter ended January 31st. The loss was less than the company had forecast, but it nonetheless reduced its full-year earnings target to $1.10-1.50 per share from earlier guidance of $1.50-2.00 a share.
Amgen (Nasdaq: AMGN - News) slid -2% to a 52-week low after the Food & Drug Administration announced new label warnings for the company's top-selling anemia treatments Arenesp and Epogen. The new warnings will note an increased risk of death, heart trauma, blood clots, and tumor growth when used at higher-than-recommended doses. The warning also applies to Procrit from Johnson & Johnson (NYSE: JNJ - News), but that stock finished modestly higher.
Shares of wireless Internet provider Clearwire (Nasdaq: CLWR - News) sank -10% on their second day of trading following its IPO Wednesday. Intel (Nasdaq: INTC - News) and Motorola (NYSE: MOT - News), which are significant investors in the company founded by cable mogul Craig McCaw, were also slightly lower today.
In the transportation sector, package-delivery giant FedEx (NYSE: FDX - News) was upgraded to a "buy" by Stifel Nicolaus. The firm also cut its rating on C.H. Robinson (Nasdaq: CHRW - News) to "sell." Robinson, a logistics company that coordinates global shipping through other freight-haulers, lost -5% today. Stifel Nicolaus said the stock was overvalued and that the company faces challenges to maintaining margins and growing its business.
By the BullMarket.com Staff

Labels: AMGN, CHRW, CLWR, FDX, HOV, INTC, JNJ, MOT, NSM, T, YHOO

Ryanair Holdings PLC, Logitech International SA and CH Robinson Worldwide Inc. combined efforts to weigh down the Nasdaq 100 in Monday midday trading.
The Nasdaq 100, which includes 100 of the largest non-financial securities traded on the Nasdaq, lost 11.04 points to 1,828.73. The broader Nasdaq composite slipped 13.59 to 2,501.51.
U.S. shares of Irish budget airline Ryanair Holdings fell $3.07, or 3.2 percent, to $93.87, following the airline sector down.
Logitech International, a computer mouse maker, declined 59 cents, or 2.1 percent, to $27.88.
Shares of logistics provider CH Robinson Worldwide lost $1.45, or 2.7 percent, to $52.46. A Bear Stearns analyst said in a note on that shippers could gain a wider pricing advantage in 2007.
Research In Motion Ltd. surged $6.20, or 4.4 percent, to $146.20 after a RBC Capital Markets analyst upgraded the Canadian handheld wireless device maker, saying the company's strong sales outweigh competitive concerns. Shares earlier hit an all-time high of $146.50.
Level 3 Communications Inc. rose 16 cents, or 2.4 percent, to $6.71 after the communications network operator said it received valid consents from the holders of all its outstanding 12.25 percent senior notes due 2013 to amend the debt.
LAM Research Corp. rose 64 cents, to $46.43 after the semiconductor equipment maker said it plans to buy back up to $750 million of its stock.
Published by AP

Labels: CHRW, LOGI, LRCX, LVLT, RIMM, RYAAY

Labels: CHRW, EXPD, FIG, GS, HAL, HCBK, Jim Cramer, KBR, Lightning Round, Mad Money, MPEL, NFI, NTRI, QCOM, RIG, SHLD, SUNW, TMO

Bullish calls:
Qualcomm (NasdaqGS: QCOM): 'QCOM has finally gotten it together. There are tremendous buyers of this stock right here ... Cramer says this thing is finally go into the mid-40s and then let's make a judgment.'Transocean (NYSE: RIG - News): 'Holy cow, this business is on fire. I would actually swap out of BJS and I would go into RIG... It's just much, much cheaper.'Melco PBL Entertainment (NasdaqGM: MPEL): 'Finally we got this thing bouncing. This stock has been actually a living, breathing nightmare ... Opportunity is finally knocking. I would hold onto it.'C.H. Robinson Worldwide (NasdaqGS: CHRW): 'I liked the quarter from CHRW, and I think right now, you should swap out of EXPD and go into CHRW.'Halliburton (NYSE: HAL - News): 'I have been patient. They had the spinoff of KBR and, if they don't use that to buy back in a self tender or very high price a lot of stock, then I will have to eat my hat.'Goldman Sachs (NYSE: GS - News)Sears (NasdaqGS: SHLD) Thermo Fisher Scientific (NYSE: TMO - News): 'We recommended this stock a couple of smackers ago. It has been going up - it pulled back from $50 ... I think you've got to not only stick with it, I think you've got to buy more [back up the truck sound].'Sun Microsystems (NasdaqGS: SUNW): 'I am starting to warm up to that.'
Bearish calls:
BJ Services (NYSE: BJS - News): ' Let me tell you how hard this business has become ... I don't like BJS as much as RIG. I would actually swap out of BJS and I would go into RIG... It's just much, much cheaper.'Hudson City Bancorp (NasdaqGS: HCBK): 'We want to get behind it, because it is the best lender in the Northeast. We can't do it until we see cuts. Don't buy, don't buy. But I am warming up to it.'Expeditors International of Washington (NasdaqGS: EXPD): ' You know, I didn't like that quarter. I liked the quarter from CHRW, and I think right now, you should swap out of EXPD and go into CHRW.'NutriSystem (NasdaqGS: NTRI): 'I didn't like what they did. They did first the lowball a couple of weeks ago...Then today they surprised to the upside on the lowball, taking the stock up 8 points in the after hours. I want to ring the register. I've had enough with NTRI. I'm about the money, and I've had enough of these guys.'Fortress (NYSE: FIG - News)Teva Pharmaceutical (NasdaqGS: TEVA): 'No. I don't like the generics.'Novastar (NYSE: NFI - News): 'No, not a chance. Not a chance my friend. I'm staying away from that group.'
Published by SeeingAlpha

Labels: BJS, CHRW, EXPD, FIG, GS, HAL, HCBK, Jim Cramer, Lightning Round, Mad Money, MPEL, NFI, NTRI, QCOM, RIG, TMO

AdvancersAvanir Pharmaceuticals (NasdaqGM:AVNR - News) received an approvable letter and acceptable labeling from the FDA for a new formulation of its antipsychotic drug FazaClo.
Boeing Co. (NYSE:BA - News) net income more than doubled in the fourth quarter, capping a year in which it set a record for airplane orders and setting the stage for higher growth in 2007, the company said.
Bristol-Myers Squibb (NYSE:BMY - News) shares rose following a report in The Financial Times that the company has hired Lehman Bros., Morgan Stanley and Citigroup to help it field possible takeover bids. Earlier in the week, a report surfaced that the company had drawn acquisition interest from French conglomerate Sanofi-Aventis (NYSE:SNY - News).
Catalyst Pharmaceutical Partners (NasdaqGM:CPRX - News) was initiated with a buy rating at Stifel Nicolaus with a $9 price target.
C.H. Robinson Worldwide Inc. (NasdaqGS:CHRW - News) reported fourth-quarter net income of $71.8 million, or 41 cents a share, up from $58.1 million, or 33 cents, a year ago. Quarterly revenue for the trucking company rose to $1.64 billion from $1.58 billion.
CheckFree Corp. (NasdaqGS:CKFR - News) reported a slight profit gain on advances in its core business. For its fiscal second-quarter, CheckFree said net income rose 4% to $35.3 million or 39 cents a share, compared to $33.8 million or 36 cents a share a year ago.
Corus Group Plc (NYSE:CGA - News) shares leapt after India's Tata Steel won a bidding war to acquire the Anglo-Dutch steelmaker for $12.1 billion.
EchoStar Communications (NasdaqGS:DISH - News) was upgraded to overweight from equal-weight at Morgan Stanley. The firm lifted its price target on the shares to $44 from $40.
Estee Lauder (NYSE:EL - News) shot up after the cosmetics giant said its second-quarter profit more than doubled amid robust sales of major lines coupled with cost cutting and a favorably currency exchange.
Frontier Oil (NYSE:FTO - News) was upgraded to neutral from underperform at Credit Suisse.
Harris Corp. (NYSE:HRS - News) said second-quarter net income rose, as revenue gained, to $94 million, or 67 cents a share, from $30 million, or 22 cents a share, during the same period in the prior year. Before items, quarterly per-share income rose to 68 cents from 52 cents in the prior year.
Harris Stratex Networks (NasdaqGM:HSTX - News) was initiated with a buy rating at Merriman Curhan Ford & Co.
Hologic Inc. (NasdaqGS:HOLX - News) reported fiscal first-quarter earnings of $16.1 million, or 30 cents a share, up from a year-ago profit of $5.7 million, or 12 cents a share. Revenue jumped 86% in the latest three months to $163.2 million from $88 million in the same period a year earlier. The Bedford, Mass.-based company attributed the higher earnings to an increase in product sales of its Selenia full-field digital mammography systems.
Ingersoll-Rand (NYSE:IR - News) fourth-quarter earnings fell 24% as sales of its small earthmover Bobcat vehicle slumped due to weaker demand in the North American market, the company's financial results showed Wednesday.
Jones Lang LaSalle Inc. (NYSE:JLL - News) said fourth-quarter net income rose, as revenue gained, to $80.9 million, or $2.37 a share, from $66.9 million, or $1.99 a share, during the same period in the prior year. Analysts were looking for per-share income of $2.26.
Kinetic Concepts (NYSE:KCI - News) was upgraded to buy from hold at Deutsche Bank.
Levitt Corp. (NYSE:LEV - News) agreed to be acquired by BFC Financial Corp. (NYSEArca:BFF - News) for $286 million in stock. In addition, Levitt said preliminary figures show its home building division generated fourth-quarter revenue of $143.6 million, with 426 homes delivered in the quarter at a margin of 19.6%. Backlog at Dec. 31 was 1,248 units with a sales value of $438.2 million. New home orders totaled 204, but were partly offset by 122 cancellations. The company said it has entered into sales contracts to dispose of certain properties and is expected to realize a pre-tax loss of $9.0 million upon disposition, and will write-off $1.4 million in pre-acquisition costs for properties which will not be acquired.
Lone Star Technologies (NYSE:LSS - News) said its fourth-quarter earnings fell to $18.1 million, or 58 cents a share, from $70.9 million, or $2.28 a share, a year earlier, hurt by an income-tax expense. Analysts surveyed by Thomson Financial expected, on average, quarterly earnings of 58 cents a share, before items. The Dallas oilfield pipe and tubing company's revenue for the quarter decreased to $334.8 million from $337.5 million a year ago. Wall Street expected quarterly revenue of $334 million.
New York Times Co. (NYSE:NYT - News) swung to a fourth-quarter loss after an $814 million charge for write-downs, staff-reduction costs and accelerated depreciation.
Omnicell (NasdaqGM:OMCL - News) shares jumped after the company posted fourth-quarter earnings of $3.8 million, or 13 cents a share, up from a year-ago profit of $2.2 million, or 8 cents a share. Revenue rose 26.4% in the latest three months to $42.3 million. The Mountain View, Calif., provider of patient safety technology products said its product backlog ended the quarter at $114.3 million, up 64.2% from the same period a year ago.
O'Reilly Automotive (NasdaqGS:ORLY - News) was upgraded to outperform from neutral at Credit Suisse. The firm lifted its price target on the stock to $38 from $36.
Quicksilver Resources (NYSE:KWK - News) was upgraded to outperform from neutral at Credit Suisse. The firm also boosted its price target on the stock to $47 from $43.
Panera Bread Co. (NasdaqGS:PNRA - News) said same bakery-cafe sales rose 0.8% in January from the same month a year ago. The St. Louis bakery-cafe chain said company-owned same-store sales rose 0.7% while franchise-operated sales were up 0.9%.
ProQuest (NYSE:PQE - News) said Alan Aldworth is leaving its chairman, president and CEO positions, effective immediately. The company named Richard Surratt president and CEO. Surratt had served as the CFO of the Ann Arbor, Mich., publishing company.
RedEnvelope Inc. (NasdaqGM:REDE - News) said third-quarter net income rose, as revenue gained, to $5.31 million, or 56 cents a share, from $4.1 million, or 43 cents a share, during the same period in the prior year. The branded online retailer said quarterly revenue rose to $57 million from $53 million in the prior year.
Red Robin Gourmet Burgers Inc. (NasdaqGS:RRGB - News) said it has signed a non-binding letter of intent to acquire the assets of 17 its franchised restaurants in California for $47.5 million, minus any assumed debt.
Sierra Health Services Inc. (NYSE:SIE - News) reported fourth-quarter net earnings of $39.3 million, or 65 cents a share, compared with $28.3 million, or 44 cents a share, in the same period last year, boosted by higher medical premiums revenue.
Sirf Technology Holdings Inc. (NasdaqGS:SIRF - News) reported fourth-quarter net earnings of $9.1 million, down from $10.23 million in the same period the prior year, mainly due to higher stock-based compensation and acquisition-related contingent payments.
U.S. Concrete (NasdaqGM:RMIX - News) said it sees fourth-quarter revenue of $211 million, compared with its prior view of $195 million to $205 million. The company cited stronger-than-anticipated sales volumes of ready-mixed concrete, partially attributable to relatively mild winter conditions. Analysts polled by Thomson Financial are looking for quarterly revenue of $204 million. U.S. Concrete said it sees a fourth-quarter net loss of 62 cents to 63 cents per share, a view that includes a 70-cent-per-share after-tax goodwill impairment charge associated with its Michigan assets. Excluding the charge, the company expects income for the fourth quarter of 7 to 8 cents per share, compared with its November outlook of 3 to 7 cents. Analysts are looking for per-share income of 5 cents.
Published by Michael Baron at MarketWatch

Labels: AVNR, BA, BMY, CGA, CHRW, CKFR, CPRX, DISH, EL, FTO, HOLX, HRS, HSTX, IR, JLL, KCI, SNY

Avanir Pharmaceuticals (NasdaqGM:AVNR - News) received an approvable letter and acceptable labeling from the FDA for a new formulation of its antipsychotic drug FazaClo.
Boeing Co. (NYSE:BA - News) reported fourth-quarter earnings of $989 million, or $1.29 a share, up from a year-ago profit of $460 million, or 58 cents a share. On a continuing operations basis, the Dow component earned $980 million, or $1.28 a share, in the latest quarter. On an adjusted basis, excluding tax benefits as well as discontinued operations, the Chicago-based aerospace giant earned $1.16 a share, in the latest quarter, compared to 74 cents a share last year. Revenue rose in the three months ended Dec. 31 to $17.54 billion from $13.9 billion in the same period a year earlier. The average estimate of analysts polled by Thomson First Call was for a profit of 98 cents a share in the December period on revenue of $16.48 billion. The company also lifted its outlook for fiscal 2007 to earnings of $4.55 to $4.75 a share. The current average estimate of analysts polled by Thomson Financial is for a profit of $4.75 a share for the year. It forecast earnings of $5.55 to $5.75 a share for fiscal 2008, saying this view reflects expectations for strong revenue growth and expanding margins across all of its businesses.
Bristol-Myers Squibb (NYSE:BMY - News) shares rose following a report in The Financial Times that the company has hired Lehman Bros., Morgan Stanley and Citigroup to help it field possible takeover bids. Earlier in the week, a report surfaced that the company had drawn acquisition interest from French conglomerate Sanofi-Aventis (NYSE:SNY - News).
Catalyst Pharmaceutical Partners (NasdaqGM:CPRX - News) was initiated with a buy rating at Stifel Nicolaus with a $9 price target.
C.H. Robinson Worldwide Inc. (NasdaqGS:CHRW - News) reported fourth-quarter net income of $71.8 million, or 41 cents a share, up from $58.1 million, or 33 cents, a year ago. Quarterly revenue for the trucking company rose to $1.64 billion from $1.58 billion.
CheckFree Corp. (NasdaqGS:CKFR - News) reported a slight profit gain on advances in its core business. For its fiscal second-quarter, CheckFree said net income rose 4% to $35.3 million or 39 cents a share, compared to $33.8 million or 36 cents a share a year ago.
Corus Group Plc (NYSE:CGA - News) shares leapt after India's Tata Steel won a bidding war to acquire the Anglo-Dutch steelmaker for $12.1 billion.
EchoStar Communications (NasdaqGS:DISH - News) was upgraded to overweight from equal-weight at Morgan Stanley. The firm lifted its price target on the shares to $44 from $40.
Estee Lauder (NYSE:EL - News) said its fiscal second-quarter net income more than doubled to $208.4 million, or 99 cents a share, from $81.7 million, or 38 cents a share, a year earlier. The New York cosmetics company said second-quarter income from continuing operations increased 39% to $208.5 million, or 99 cents a share, from $150.4 million, or 70 cents a share, and net sales advanced 12% to $1.99 billion from $1.78 billion. Analysts surveyed by Thomson Financial, on average, had been expecting Estee Lauder to earn 76 cents a share on net sales of $1.91 billion for the second quarter ended Dec. 31. The maker of Aveda and Clinique products expects third-quarter earnings from continuing operations to be about flat from a year earlier as sales rise 4% to 6%.
Frontier Oil (NYSE:FTO - News) was upgraded to neutral from underperform at Credit Suisse.
Harris Corp. (NYSE:HRS - News) said second-quarter net income rose, as revenue gained, to $94 million, or 67 cents a share, from $30 million, or 22 cents a share, during the same period in the prior year. Before items, quarterly per-share income rose to 68 cents from 52 cents in the prior year.
Harris Stratex Networks (NasdaqGM:HSTX - News) was initiated with a buy rating at Merriman Curhan Ford & Co.
Hologic Inc. (NasdaqGS:HOLX - News) reported fiscal first-quarter earnings of $16.1 million, or 30 cents a share, up from a year-ago profit of $5.7 million, or 12 cents a share. Revenue jumped 86% in the latest three months to $163.2 million from $88 million in the same period a year earlier. The Bedford, Mass.-based company attributed the higher earnings to an increase in product sales of its Selenia full-field digital mammography systems.
Ingersoll-Rand (NYSE:IR - News) said fourth-quarter net income for the three months ended Dec. 31 fell to $222 million, or 72 cents a share, from $291.6 million, or 87 cents a share in the year-ago period. Earnings from continuing operations in the latest quarter were 74 cents a share. Revenue increased by 7% to $2.89 billion. Analysts surveyed by Thomson Financial forecast earnings of 73 cents a share, on average. Full-year 2007 earnings from continuing operations are forecasted at $3.61 to $3.71 a share, compared to the Thomson Financial estimate of $3.55 a share.
Jones Lang LaSalle Inc. (NYSE:JLL - News) said fourth-quarter net income rose, as revenue gained, to $80.9 million, or $2.37 a share, from $66.9 million, or $1.99 a share, during the same period in the prior year. Analysts were looking for per-share income of $2.26.
Kinetic Concepts (NYSE:KCI - News) was upgraded to buy from hold at Deutsche Bank.
Levitt Corp. (NYSE:LEV - News) agreed to be acquired by BFC Financial Corp. (NYSEArca:BFF - News) for $286 million in stock. In addition, Levitt said preliminary figures show its home building division generated fourth-quarter revenue of $143.6 million, with 426 homes delivered in the quarter at a margin of 19.6%. Backlog at Dec. 31 was 1,248 units with a sales value of $438.2 million. New home orders totaled 204, but were partly offset by 122 cancellations. The company said it has entered into sales contracts to dispose of certain properties and is expected to realize a pre-tax loss of $9.0 million upon disposition, and will write-off $1.4 million in pre-acquisition costs for properties which will not be acquired.
Lone Star Technologies (NYSE:LSS - News) said its fourth-quarter earnings fell to $18.1 million, or 58 cents a share, from $70.9 million, or $2.28 a share, a year earlier, hurt by an income-tax expense. Analysts surveyed by Thomson Financial expected, on average, quarterly earnings of 58 cents a share, before items. The Dallas oilfield pipe and tubing company's revenue for the quarter decreased to $334.8 million from $337.5 million a year ago. Wall Street expected quarterly revenue of $334 million.
New York Times Co. (NYSE:NYT - News) swung to a fourth-quarter loss on an $814 million charge for the write-down of intangible assets at the New England Media Group, staff-reduction costs and accelerated depreciation of its Edison, N.J., printing plant. The New York media company reported a fourth-quarter loss of $648 million, or $4.50 a share, compared with earnings of $63.2 million, or 43 cents, a year earlier. Excluding the charges, the company earned $87.9 million, or 61 cents a share, in the latest quarter. The company said revenue for the three months ended Dec. 31 rose 4.3% to $931.5 million from $893.1 million a year ago. Analysts surveyed by Thomson Financial expected, on average, earnings of 46 cents a share on revenue of $904 million. Analyst earnings forecasts typically exclude unusual items. In addition, New York Times Co. said it expects to complete the sale of its Broadcast Media group for $575 million in the first half of 2007.
Published By MarketWatch

Labels: AVNR, BA, BFF, BMY, CGA, CHRW, CKFR, CPRX, DISH, EL, FTO, HOLX, HRS, HSTX, JLL, KCI, LEV, LSS, NYT, SNY